Sr. Compensation Analyst - The Toro Company

The Toro Company•Bloomington, MN

25d•$120,000 - $150,000•Hybrid

About The Position

Applicants must be legally authorized to work in the United States. We are unable to sponsor or take over sponsorship of a school/employment or any other visa, regardless of expiration date, now or in the future. Who Are We? The Toro Company is a homegrown, Minnesota-based company that has been in business since 1914. We pride ourselves on providing world-class equipment to help maintain the environment that we love, while putting an emphasis on giving back to the communities that surround us. From residential lawns and gardens, to venues such as St Andrews Links and Target Field, we are a company with a global footprint and a passion for helping people beautify whatever landscape they may be in. With 100 years of operation under our belt and a healthy tenure, come find out what makes The Toro Company the best place in the Twin Cities to build a career. Sr. Compensation Analyst at TTC: Analyzes, designs and administers compensation programs such as base pay, long and short-term incentives, spots bonuses and commissions that align with company objectives. Designs and communicates pay structures, job profile grades, compensation budgets and guidelines. Provides thought leadership and strategic advice to create solutions that align compensation policies with business needs to support the attraction and retention of employees. Conducts research and analysis on market competitiveness, compensation trends and regulatory requirements. What Will You Do? In order to grow and build a successful career with The Toro Company, you will be responsible for the following duties: Partner closely with Human Resources Business Partners and key stakeholders to consult on global compensation needs and initiatives. Lead and support the development, execution, communication and implementation of compensation programs (i.e. base pay, incentive plans, sales compensation, equity) and policies. Perform job evaluations using internal and external data to assign appropriate job grade. Conduct in-depth analysis on job families in partnership with HR and business leaders. Provide high-level strategic insights on complex and challenging compensation situations. Lead annual compensation processes to include merit planning, budget development, salary surveys, market analysis and incentive plan administration. Ensure compensation programs and policies comply with regulatory and legal requirements. Provide executive compensation support. Lead, drive, and support compensation-related projects from inception through execution. Operate independently in high-responsibility tasks, occasionally serve in a team lead capacity.

Requirements

Bachelor’s degree in relevant field (HR, Business, Finance or related field)
7+ years of broad compensation experience required with a strong track record in designing and implementing compensation strategies
Excellent communication skills, both verbal and written, with strong analytical and quantitative abilities
Expertise in compensation theory, program design and understanding of regulatory requirements
Highly organized and adaptable with a demonstrated ability to lead
Demonstrated critical thinking, listening and problem-solving ability; understands broader implications of decisions

Nice To Haves

Certified Compensation Professional (CCP) designation preferred
Previous experience working with Workday, CompAnalyst and AON preferred
Design and administration of incentive and sales plans preferred
Equity plan administration experience preferred

Responsibilities

Partner closely with Human Resources Business Partners and key stakeholders to consult on global compensation needs and initiatives.
Lead and support the development, execution, communication and implementation of compensation programs (i.e. base pay, incentive plans, sales compensation, equity) and policies.
Perform job evaluations using internal and external data to assign appropriate job grade.
Conduct in-depth analysis on job families in partnership with HR and business leaders.
Provide high-level strategic insights on complex and challenging compensation situations.
Lead annual compensation processes to include merit planning, budget development, salary surveys, market analysis and incentive plan administration.
Ensure compensation programs and policies comply with regulatory and legal requirements.
Provide executive compensation support.
Lead, drive, and support compensation-related projects from inception through execution.
Operate independently in high-responsibility tasks, occasionally serve in a team lead capacity.

Benefits

In addition to a competitive salary, an affordable and top tier medical/dental/vision plan, 401k, and many other great benefits - The Toro company offers employees at our Bloomington, MN HQ location a variety of perks, including:
Dress for your day - We know you're more productive when you're comfortable, which is why TTC employees are encouraged to take advantage of our casual, corporate environment.
Location – Conveniently located near both St. Paul and Minneapolis, we are centrally located for most commuters!
Food - Take advantage of our onsite café, which serves both breakfast and lunch. With a Caribou Coffee attached, you can grab a snack and a coffee at any time during your day.
Wellness - The Toro Company’s HQ offers complimentary use of our onsite fitness facility to employees. In addition to physical wellbeing, TTC offers a variety of mental health and financial health resources to all employees.
Volunteerism - The Toro Company is proud to provide employees 20 hours of paid time to volunteer in the community.
Summer Hours – Enjoy a flexible schedule during the summer! By working a little more during the first few days of the week, TTC employees at our Bloomington HQ are able to start their weekends early and leave by noon on Friday.
Flexible Work Arrangements – This team is currently implementing a hybrid work schedule. The opportunity to collaborate in the office and work from home part-time, has promoted team-building and flexibility.
Competitive Salary – The pay range takes into account skills, experience, education, and location. It is not common to be hired at or near the top of the range; compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the annual pay range is between $120,000 - $150,000.
Cash compensation is one piece of our competitive total rewards package.
If you need to, you can access your pay early with the dailypay app.